Grizzly Closes Private Placement
Grizzly Closes Private Placement
Edmonton, Alberta--(Newsfile Corp. - January 22, 2024) -
Grizzly Discoveries Inc. (TSXV: GZD)
(FSE: G6H) (OTCQB: GZDIF) ("Grizzly" or the "Company")
is pleased to announce that, on January
19, 2024, it closed on a private placement (the "Offering") by the issuance of 2,975,500 Units (as
defined below) at a price of $0.05 per Unit for gross proceeds of $148,775.
Under the terms of the Offering, each Unit consisted of one common share of the Company ("Common
Share") and one half of one warrant ("Warrant").
Each whole Warrant entitles the holder to acquire one
additional Common Share at an exercise price of $0.07 per Common Share and shall expire on the
earlier of: (a) 30 days following written notice by the Issuer to the Subscriber that the volume-weighted
average trading price of the Common Shares on the TSX Venture Exchange is at or greater than
CA$0.10 per Common Share for 10 consecutive trading days; and (b) January 19, 2026.
The Company intends to use the proceeds from the Units for general working capital.
The Common Shares and any Common Shares issued on exercise of the Warrants are subject to
restrictions on trading until May 20, 2024 in accordance with the policies of the TSX Venture Exchange.
Following closing of the Offering, the Company has 152,669,619 Common Shares issued and
outstanding.
The Offering is subject to Final Acceptance by the TSX Venture Exchange.
ABOUT GRIZZLY DISCOVERIES INC.
Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture
Exchange focused on developing its approximately 72,700 ha (approximately 180,000 acres) of
precious and base metals properties in southeastern British Columbia.
Grizzly is run by a highly
experienced junior resource sector management team, who have a track record of advancing
exploration projects from early exploration stage through to feasibility stage.
On behalf of the Board,
GRIZZLY DISCOVERIES INC.
Brian Testo, CEO, President
Suite 363-9768 170 Street NW
Edmonton, Alberta T5T 5L4
For further information, please visit our website at
www.grizzlydiscoveries.com
or contact:
Nancy Massicotte
Corporate Development
Tel: 604-507-3377
Email:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
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https://www.newsfilecorp.com/release/195112